Monday, November 5, 2012

CHFJPY Triangle Trade Setup CHFJPY Triangle Trade
Looks like pair is still in consolidation phase after solid gains from 82 level. Price is forming a triangle on 4H charts. 

Currently the width of triangle is aproxx 100pips so we can play out bounces from triangle's trendline. Pair has recently bounced from 100EMA.

My strategy is to go long on any bounces towards 100EMA which also coincides with triangle's lower trendline for a possible move towards triangle's upper trendline.

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